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Burton council leans toward 10-year certificate to finance Water Well 45
Summary
At a Dec. 3 workshop, Burton council members reviewed financing options for Water Well 45 with financial and legal advisors and reached a general consensus to pursue a 10-year Certificate of Obligation to advance the project.
At a Dec. 3 workshop meeting, the Burton City Council reviewed financing options for Water Well 45 with financial advisor James Gilley of U.S. Capital Advisors and bond counsel Gregory Miller of Bickerstaff Heath Delgado Acosta LLP. Mayor Karen Buck opened the session at 5:30 p.m.; the meeting record shows Councilmembers Macey Tidwell, Paul McLaughlin and Jeff Eckhardt were present.
Mr. Gilley presented comparative tables outlining estimated payments and term differences among financing programs. After questions and discussion about cost and repayment schedules, the council reached a general consensus that a 10‑year Certificate of Obligation would best fit the city’s needs and would allow staff to move forward with next steps for financing Water Well 45. The transcript does not record a formal motion or vote on the item. The workshop adjourned at 6:50 p.m.
